No order status options other than Processing and Suspected Fraud

Hi.

I’m relatively new to Magento after using Presta for many years.

I have a store up and running and orders coming in, but on the first order I realized there seems to be a problem with order processing.

The only options I seem able to select at the bottom of a new order, in the drop down box, are Processing and Suspected Fraud.

I have searched online for explanations or solutions to this but can’t find anything that seems relevant. Does anyone know what I need to do or change in the set up of the store?

Thanks